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GameStop may be looking far beyond game stores. A Wall Street Journal report says CEO Ryan Cohen is considering an offer for eBay as part of a plan to turn the retailer into a much larger company.
Good to Know
GameStop still has a mall presence, but its old retail model keeps shrinking. Physical game stores are harder to find, and the company has spent years trying to cut costs, rebuild profit and stay relevant.
Now, according to the Wall Street Journal, Cohen may be looking at eBay. The report, citing people familiar with the matter, said GameStop is preparing the next stage of a broader plan that could include an offer for the online marketplace.
The size gap makes the idea unusual. eBay carries more than four times the market value of GameStop and posted $11.1 billion in revenue last year. GameStop, by comparison, reported $3.6 billion in 2025 net sales, down from the previous year.
However, GameStop did return to operating profit. The company posted $232.1 million in operating income after years of losses, giving Cohen more room to pitch a larger plan.
The reported eBay interest also fits Cohen comments to the Journal earlier in the year. He said he wanted to acquire a large company in a bet that was “either going to be genius or totally, totally foolish.”
Investors reacted quickly to the report, with both GameStop and eBay shares rising after publication.
Still, the path remains unclear. The report did not detail what kind of offer GameStop might make, how Cohen would finance it, or how eBay would fit with the game retailer. GameStop has also drawn attention recently for less serious public-facing efforts, including “Trade Anything Day” and political memes on X that drew criticism.